🔥 Another strong breakout — this time from **ONGC** — confirming a **Rectangle Range Breakout** pattern.
---
## 🛢️ **ONGC – Rectangle Range Breakout**
### 📍 **Pattern**:
* Consolidation in a **horizontal range** (Rectangle)
* Strong breakout above ₹252 with **massive volume spike**
* Target projected:
₹252 + ₹36.90 = **₹289**
---
### 📈 **Technical Highlights**
* ✅ Price broke out with highest volume spike in months
* ✅ RSI breakout above descending trendline
* ✅ EMA 8/21/55/144 all in bullish alignment
* ✅ Price surged >2% on breakout day with U/D days turning positive (25/25)
---
### 📊 **Volume & RSI Confirmation**
* RSI breaking the bearish trendline = momentum returning
* Volume bar way above average — **high conviction breakout**
* Clean breakout after multiple rejections around ₹252 = **strong resistance flip**
---
### 🚀 **Trade Setup**
* **Entry**: ₹252–₹258 zone
* **Target**: ₹289
* **Stoploss**: ₹238 (or below range bottom for safe positioning)
---
---
## 🛢️ **ONGC – Rectangle Range Breakout**
### 📍 **Pattern**:
* Consolidation in a **horizontal range** (Rectangle)
* Strong breakout above ₹252 with **massive volume spike**
* Target projected:
₹252 + ₹36.90 = **₹289**
---
### 📈 **Technical Highlights**
* ✅ Price broke out with highest volume spike in months
* ✅ RSI breakout above descending trendline
* ✅ EMA 8/21/55/144 all in bullish alignment
* ✅ Price surged >2% on breakout day with U/D days turning positive (25/25)
---
### 📊 **Volume & RSI Confirmation**
* RSI breaking the bearish trendline = momentum returning
* Volume bar way above average — **high conviction breakout**
* Clean breakout after multiple rejections around ₹252 = **strong resistance flip**
---
### 🚀 **Trade Setup**
* **Entry**: ₹252–₹258 zone
* **Target**: ₹289
* **Stoploss**: ₹238 (or below range bottom for safe positioning)
---
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.